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Direct Deposit

Life is busy. Lighten the load with direct deposit, a free service that deposits your paycheck—and other payments—directly into your Flagstar account.

A convenient way to get paid

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Save time.

No special trips to the bank. No mobile check deposits. Direct deposit sends your money where it needs to go.

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Access your money faster.

Your money moves electronically, so it’s available right away.

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Rest easy.

You won’t have to worry about lost or stolen checks. Plus, your money travels securely to your account. 

Set up direct deposit for your paycheck and more

Direct deposit is available for many different types of payments. We can’t cover everything, but here are a few common organizations and how to enroll.  

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Your paycheck

Contact your work’s payroll department. If they don’t have a direct deposit form, you can use this one.

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VA, Social Security & other federal benefits

Enroll in direct deposit at godirect.gov.

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Tax refunds

Visit the IRS website for federal refunds. Check your state and city websites to see if they offer direct deposit, too.

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Armed service pay

Active and retired military, annuitants, beneficiaries, and survivors can visit myPay to enroll online or download a form to mail in.

FAQs for direct deposit

Direct deposit is a way to send money electronically instead of paying with a check or cash. The money goes straight from the sender to the recipient’s checking or savings account. Many employers and government agencies use direct deposit to keep costs down and prevent lost or stolen checks. Recipients like direct deposit because it’s fast, secure, and convenient and saves a trip to the bank.

 

To enroll in direct deposit, start with the company or organization that is paying you. For example, you would go to your employer to enroll in direct deposit for your paycheck or the IRS website to set up direct deposit for your tax refund. Typically, you’ll need to provide personal information (name, address, and phone number) and your bank account routing and account numbers. 

It depends on the source of income: 

  • Your employer: Contact the payroll department or human resources.
  • Social Security, VA, and other federal programs: Visit godirect.gov. 
  • Internal Revenue Service: Visit the IRS website.
  • Armed services: Visit myPay.
  • Child support: Visit your state’s website. (For example, you’ll find information for New York here and for Michigan here.) 
  • Dividends: Contact your broker or visit the website for your investments.

Let’s start with how things work without direct deposit: The organization cuts the check. Then, maybe your paycheck is handed out at work, or your Social Security check arrives by mail. When you have time, you either drive to a bank branch or use your bank’s mobile app to deposit the check into your account.

 

With direct deposit, you’ll skip all of these steps. Instead, your money is delivered electronically and straight into your checking or savings account—or both!

Yes. Many companies let you split your deposit between two or more accounts. For example, you can have $75 of your paycheck go to a savings account, and the rest go to checking.

 

When you enroll, be sure to have the routing and account numbers for every account. 

To set up direct deposit, you’ll need to provide the following information:

  • Name, address, and phone number
  • Employee ID (for direct deposit of your paycheck)
  • Checking or savings account number
  • Bank routing number (Ours is 226071004)

Depending on the organization, you may need additional information, like your Social Security number, a voided check or deposit slip, or a benefits claim number. Visit the organization’s website for specifics. 

No. Flagstar receives your checks. You have to enroll with the company or organization that sends them.

 

However, we can answer your questions and help you decide if direct deposit is right for you. Just call or stop by a local branch.

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